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XEROX CORP. v. GENMOORA CORP.

No. 88-1446.

888 F.2d 345 (1989)

XEROX CORPORATION, Derivatively As A Shareholder of The Genmoora Corp. Plaintiff-Appellant, v. GENMOORA CORP., et al., Defendants, Michael J. Collins, Norman E. Brinker, Thomas W. Barton and Bruns Grayson, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

November 17, 1989.

Attorney(s) appearing for the Case

A.B. Conant, Jr., David M. Pruessner, William B. Chaney, Shank, Irwin, Conant, Lipshy & Casterline, Dallas, Tex., Barry Jay Kesselman, Stamford, Conn., for plaintiff-appellant.

David C. Godbey, Robert H. Mow, Jr., Hughes & Luce, Dallas, Tex., for Collins and Barton.

Kenneth E. Carroll, Robert L. Blumenthal, Carrington, Coleman, Sloman & Blumenthal, Dallas, Tex., for Brinker and Grayson.

Before BROWN, JOHNSON and DAVIS, Circuit Judges.

JOHN R. BROWN, Circuit Judge:

In this shareholder derivative suit, Xerox challenges a series of transactions among the current sole director and four ex-directors of the Genmoora Corporation (Genmoora). It alleges that these transactions depleted the corporation's assets and resulted in the failure to fund a Liquidating Trust Fund established to receive the proceeds of a sale of all of Genmoora's assets to Moore Business Forms, Inc. (Moore).1

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